BWS Financial Reaffirms “Buy” Rating for Garrett Motion (NYSE:GTX)

Garrett Motion (NYSE:GTX)‘s stock had its “buy” rating restated by equities researchers at BWS Financial in a report issued on Friday, Benzinga reports. They currently have a $12.00 price objective on the stock. BWS Financial’s price objective suggests a potential upside of 62.38% from the stock’s previous close.

Garrett Motion Trading Down 7.4 %

GTX stock opened at $7.39 on Friday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -6.43 and a beta of 1.15. The firm has a 50-day moving average of $8.09 and a two-hundred day moving average of $8.68. Garrett Motion has a 12 month low of $6.93 and a 12 month high of $10.16.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $950.00 million. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. During the same quarter last year, the firm earned ($1.88) earnings per share. As a group, equities analysts forecast that Garrett Motion will post 1.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the transaction, the director now directly owns 53,781 shares in the company, valued at approximately $471,659.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Garrett Motion

A number of institutional investors have recently made changes to their positions in GTX. Assenagon Asset Management S.A. acquired a new position in Garrett Motion during the third quarter worth $1,204,000. Handelsbanken Fonder AB boosted its stake in shares of Garrett Motion by 88.8% in the third quarter. Handelsbanken Fonder AB now owns 20,200 shares of the company’s stock valued at $165,000 after purchasing an additional 9,500 shares during the period. Quarry LP grew its holdings in shares of Garrett Motion by 54.8% in the second quarter. Quarry LP now owns 5,170 shares of the company’s stock valued at $44,000 after purchasing an additional 1,830 shares in the last quarter. Algert Global LLC increased its stake in Garrett Motion by 109.0% during the 2nd quarter. Algert Global LLC now owns 46,718 shares of the company’s stock worth $401,000 after buying an additional 24,368 shares during the period. Finally, Maverick Capital Ltd. raised its stake in shares of Garrett Motion by 324.1% in the second quarter. Maverick Capital Ltd. now owns 169,061 shares of the company’s stock valued at $1,452,000 after acquiring an additional 129,195 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.